How to Buy Stellar Lumens (XLM) – The Definitive Guide

Well, you have come to the correct place. In this guide, we will present you multiple options to purchase Stellar Lumens.

During the bull run of 2017, many media houses have thrown light on Stellar Lumens. CNBC even went on to call it the “hottest new coin.” As a result, there was a surge of interest from people towards this relatively unknown altcoin.

Before we move on to the buying methods, it is only fair that we tell you a little about this new hot altcoin.

What are Stellar Lumens (XLM)?

Stellar Lumen (XLM) is the native currency of the Stellar network.

Stellar provides us with a decentralized blockchain which allows you to make cross-border payments with ease. The transaction times are really quick, and the fees are also minimal.

With banks, it can take from 2 to 5 business days for you to transfer some money to your friend in another country. But with the Stellar network, the same can be achieved in about 2 to 5 seconds. The Stellar network can, at the time of writing, do more than a thousand transactions per second.

How it Stellar (XLM) different from Ripple (XRP)?

The Stellar network will sound very much like Ripple. To be honest, Stellar is a fork of Ripple. That happened in 2014 and ever since Stellar has grown in its own ways.

Ripple does the same thing but concentrates more on banks. With Stellar, the focus areas are on micropayments to retail and service businesses. Stellar also enables the average person to make international payments without much effort and with minimal transaction fees.

Now that we know a little about the Stellar network let’s see how to buy Stellar Lumens (XLM).

How to Buy Stellar Lumens (XLM) with USD?

Until very recently, there was no way to buy Stellar Lumens with the US Dollar or any other fiat currency.

But now things have changed.

You can now purchase Stellar Lumens (XLM) with your credit and debit cards on CEX.io.

CEX.io is a bitcoin broker that gives you the best deals after scouring through a lot of busy exchanges. With Cex in the picture, buying Stellar Lumens is now easier than ever.

Here is a step by step procedure on how to use CEX.io.

First, go their website, CEX.io.

You have to open an account in order to buy any of the coins CEX provide. The registration process is straightforward. You give your email address and password to create an account.

Alternatively, you can also use your Google or Facebook account to log in as well. But we suggest creating an account with an email address. Once you verify your email address, you are free to use your CEX account.

Once you log in, you are greeted with this screen where you can select XLM as the cryptocurrency you wish to purchase.

You can select the number of Stellar Lumens you want to buy and hit the buy button. It will guide you to the verification screen which is shown below.

After you enter the card details, name and the CVV, the page will open a verification dialogue.

Here, you can select the document you are willing to submit and attach the photographs as required. The verification process is pretty quick, and you will receive your Stellar Lumens (XLM) without much delay in your CEX.io wallet.

From there, you can move your Stellar Lumens to any wallet of your choice (more on that later).

Be informed that there is a credit card fee for using CEX.io. However, this is the lowest fee for credit cards when purchasing cryptocurrencies. The fee is a flat 3.5% + $0.25 and is much smaller than the competitors.

This is the easiest method on the internet to buy Stellar Lumens with USD or Euros.

How to Buy Stellar Lumens (XLM) with Bitcoin and Ethereum?

Okay, so you want to buy Stellar Lumens (XLM), but you want to do it with cryptocurrencies like Bitcoin and Ethereum.

There are literally hundreds of exchanges you can make use of to purchase Stellar Lumens (XLM) with Bitcoin or any other cryptocurrency.

In this guide, we are going to give you a couple of exchanges that are super easy to use.

How to Buy Stellar Lumens (XLM) on Binance

The first thing you need to do is to deposit your cryptocurrency in your Binance account.

In order to do that, you have to open the deposit page from the funds option on the menu.

Once you reach that page, you can select the cryptocurrency you want to deposit in your Binance account. In this case, let us use Bitcoin. Once Bitcoin is selected, you will get the receiving address for your Bitcoin wallet.

This is the address you should send your Bitcoins. Please make sure to double check the address before you send it.

If you are planning to send a larger amount, then do make a test send with a minimal amount. This will ensure peace of mind even though you pay the fees twice.